Principal Financial Group Inc. Reduces Holdings in Performance Food Group Company $PFGC

Principal Financial Group Inc. decreased its position in Performance Food Group Company (NYSE:PFGC) by 30.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 836,241 shares of the food distribution company’s stock after selling 370,911 shares during the period. Principal Financial Group Inc.’s holdings in Performance Food Group were worth $87,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PFGC. Holocene Advisors LP boosted its holdings in Performance Food Group by 8.6% in the second quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock worth $269,318,000 after acquiring an additional 244,793 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Performance Food Group by 22.1% in the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after purchasing an additional 465,807 shares during the last quarter. Eminence Capital LP grew its stake in shares of Performance Food Group by 6.7% during the second quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company’s stock valued at $196,880,000 after buying an additional 141,864 shares during the last quarter. Norges Bank bought a new position in Performance Food Group in the second quarter worth approximately $163,954,000. Finally, Jennison Associates LLC boosted its stake in shares of Performance Food Group by 10.2% during the second quarter. Jennison Associates LLC now owns 1,860,048 shares of the food distribution company’s stock valued at $162,698,000 after purchasing an additional 171,957 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PFGC. Morgan Stanley set a $123.00 price target on Performance Food Group in a research note on Tuesday, January 20th. Citigroup reduced their price objective on shares of Performance Food Group from $134.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday, January 7th. Sanford C. Bernstein initiated coverage on Performance Food Group in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $130.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Finally, Guggenheim restated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.22.

Performance Food Group Trading Down 0.7%

Shares of Performance Food Group stock opened at $94.76 on Tuesday. Performance Food Group Company has a 1 year low of $68.39 and a 1 year high of $109.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.67 and a quick ratio of 0.70. The business has a 50 day moving average price of $93.22 and a 200 day moving average price of $97.95. The company has a market capitalization of $14.86 billion, a P/E ratio of 45.56, a P/E/G ratio of 1.15 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $17.08 billion for the quarter, compared to the consensus estimate of $16.87 billion. Performance Food Group had a return on equity of 15.97% and a net margin of 0.50%.The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. Sell-side analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.